- If anything goes wrong during any game, franchise companies may pose threats to halt the league since they will have more power

Unlikely. It's pretty much the same business people on both sides.

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- High chances that those franchises will have strong BCB link. So, BCB may act to please them.

Likely. They will also act to please BCB. Like I said before, it's pretty much the same business people on both sides.

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Franchise companies may indulge in unlawful dealings (under the table) which we have already witnessed in Premier league of Cricket and Football

Guaranteed.

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- FC cricketers will have to abide by franchise companies demands. For example, companies may force certain well known cricketer to promote their products either by attending their functions or doing adverts etc which cricketers may not be comfortable doing it.

I think our players would be only too happy to do that.

Excellent post BTW

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"And do not curse those who call on other than GOD, lest they blaspheme and curse GOD, out of ignorance. We have adorned the works of every group in their eyes. Ultimately, they return to their Lord, then He informs them of everything they had done." (Qur'an 6:108)